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(Marketwatch)   6 in 10 consumers have cut back on non-essential spending due to high price of gasoline. Of course, without a job or car, gasoline also becomes non-essential   (marketwatch.com) divider line 36
    More: Interesting, Greg McBride, CFA, gross margins, American Reporter, gas prices, continental United States  
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931 clicks; posted to Main » on 23 May 2012 at 11:46 AM   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-05-23 11:47:32 AM
I make my own gas.

/Oh,wait. Wrong gas...
 
2012-05-23 11:47:43 AM
I bought a prius.
 
2012-05-23 11:51:05 AM
Gas prices are going down now.
Time to fire up the F250 and take the twin engine boat for a cruise.
 
2012-05-23 11:57:40 AM
Gas is down anywhere from 30-40 cents this month for me, depending on where i fuel up. Its almost like it should never have been that high at all.
 
2012-05-23 11:58:39 AM
fuel prices went up, every damn thing except my salary grew
 
2012-05-23 12:00:43 PM
I am still a firm believer that when the gas prices spiked to $3 the first time, it triggered the recession. So if we continue to have high gas/energy prices, I believe our economic growth will be stifled until we as voters get pissed off enough to force the guberment to change energy polices or a new whiz bang energy source is invented.
 
2012-05-23 12:01:02 PM
Iblis824: Gas is down anywhere from 30-40 cents this month for me, depending on where i fuel up. Its almost like it should never have been that high at all.

So when it goes up at the same rate it's because it should never have been that low to begin with?
 
2012-05-23 12:01:19 PM
URAPNIS: Gas prices are going down now.

Hey, everyone remember how Fox News was reporting breathlessly every day about the rising price of gasoline, and it was a huge threat to Obama's re-election chances?

Just curious how many stories have they run on gasoline prices as they've started to come back down? Anyone?
 
2012-05-23 12:01:48 PM
Honest Bender: I make my own gas.

/Oh,wait. Wrong gas...


Doesn't have to be...

/who run Bartertown?
 
2012-05-23 12:03:10 PM
No, they aren't. They are cutting back because a drop in real purchasing power due to long term stagnant wages in the face of inflation. However they blame it on gas prices because they don't know any better.
 
2012-05-23 12:04:13 PM
Doc Daneeka: URAPNIS: Gas prices are going down now.

Hey, everyone remember how Fox News was reporting breathlessly every day about the rising price of gasoline, and it was a huge threat to Obama's re-election chances?

Just curious how many stories have they run on gasoline prices as they've started to come back down? Anyone?


Seven.
 
2012-05-23 12:05:14 PM
Ive cut back a lot and I am even trying to get my work to transfer me closer to home. Might have some jobs opening up closer to home this summer.
 
2012-05-23 12:07:27 PM
poor people problems.
I'll continue to drink a quart jar full a day to help keep the KFC down.
 
2012-05-23 12:08:50 PM
I know I'm spending less, though i don't think recession has quite reached my wife yet, amirite?
 
2012-05-23 12:11:52 PM
Eh. $30/mo on gas doesn't bother me.

It's the increase in food prices that's really got me pinching pennies.
 
2012-05-23 12:16:01 PM
Right now gas is almost as high as its ever been in my area.
But then again, I live in Calif where we're held hostage by the environuts.
$4.30 a gallon for regular is just crazy.
 
2012-05-23 12:24:36 PM
Iblis824: Gas is down anywhere from 30-40 cents this month for me, depending on where i fuel up. Its almost like it should never have been that high at all.

Same here. In MA. It's gone down for the past few weeks.
 
kab
2012-05-23 12:44:47 PM
Gas costs less than it did a bit ago, but still costs far too much. Other neccessities (food) have also gone up, and stayed there. Wages = stagnant.

I don't see my cutback in spending or overall driving changing anytime soon.
 
2012-05-23 12:47:24 PM
beer4breakfast: Iblis824: Gas is down anywhere from 30-40 cents this month for me, depending on where i fuel up. Its almost like it should never have been that high at all.

So when it goes up at the same rate it's because it should never have been that low to begin with?


Probably. But when it moves without the price of any of the base commodities changing, its irritating.

When oil goes up a dollar, and gas shoots up, its far slower going back down.
 
2012-05-23 12:49:19 PM
jyarbrough79: I am still a firm believer that when the gas prices spiked to $3 the first time, it triggered the recession. So if we continue to have high gas/energy prices, I believe our economic growth will be stifled until we as voters get pissed off enough to force the guberment to change energy polices or a new whiz bang energy source is invented.

THIS
The Quants all said any Real Estate bubble was supposed to happen regionally. Due to the national spike in gas prices it made the market contract nationally. Opps
 
2012-05-23 12:51:48 PM
jyarbrough79: I am still a firm believer that when the gas prices spiked to $3 the first time, it triggered the recession. So if we continue to have high gas/energy prices, I believe our economic growth will be stifled until we as voters get pissed off enough to force the guberment to change energy polices or a new whiz bang energy source is invented.

There was an article a few years ago in a respectable publication by an actual expert about how permanent $80 bbl oil would tank the US economy. Wish I could find it.
 
2012-05-23 12:56:00 PM
Ayn Rand's Social Worker: I bought a prius.

Translation: "I was concerned about spending an extra $40/month on gas, so I bought a new car that I'll be paying $350/month for the next four-plus years, and with batteries I'll have to replace in seven."
 
2012-05-23 12:57:02 PM
Has no gas tank, travels on already established road system.
i.imgur.com
 
2012-05-23 01:20:56 PM
I'd buy a tesla if I could actually get one....
 
2012-05-23 01:22:42 PM
zepher: Right now gas is almost as high as its ever been in my area.
But then again, I live in Calif where we're held hostage by the environuts.
$4.30 a gallon for regular is just crazy.


Yop, station near me was charging 4.60 not too long ago

I wanted to strangle anyone from the Midwest who complained about prices
 
2012-05-23 01:40:12 PM
I want to know why the hell the west coast has the highest. $4 a gallon still reigns west of the Rocky's.
 
2012-05-23 01:40:13 PM
LOL @ poor people problems.
 
2012-05-23 02:36:26 PM
Lost Thought 00

No, they aren't. They are cutting back because a drop in real purchasing power due to long term stagnant wages in the face of inflation. However they blame it on gas prices because they don't know any better.


You voted for Obama didn't you? Companies have to pay higher energy costs and that leaves less money for raises. Energy costs, up or down, drive the economy in the same direction. Every thing moves by fuel, every bite of food from the supplies delivered to the farm to begin production to the food on the table moves by fuel and the cost is added into the final product - which YOU have to pay. Your electric bill, moves along with energy prices, the property taxes too because the state and county have to pay higher prices for fuel. Fire trucks and rescue units can't get to you if their gas tanks are empty. President Bush signed an Executive Order to allow more drilling and the oil speculators got out of the game and prices went down. One of Obama's first actions was to rescind that E.O. and fuel prices started back up because the speculators could make money off a more limited supply. SUPPLY AND DEMAND. Works every time in a free market. All of this drives inflation and now everyone has to cut back.
 
2012-05-23 03:09:59 PM
I have a job and a car, but I haven't put gas in the car since February out of lack of reason. Did start my car in April, but discovered some asshat stole almost an entire tank of gas while I was at work one day. Still haven't bothered to fill the tank, figure it's now a feature: I don't think it has enough gas to get to the gas station, so if someone steals the whole damn car, it's not going far.
 
2012-05-23 03:38:45 PM
My bike gets 77 mpg, not too worried.
 
2012-05-23 04:27:43 PM
Gas is still cheaper in America than just about any other first world nation by quite a large amount.
 
2012-05-23 04:33:56 PM
Jument: Gas is still cheaper in America than just about any other first world nation by quite a large amount.

The difference is taxes. Most countries maintain their roads. We don't.
 
2012-05-23 06:07:51 PM
Baloo Uriza: Jument: Gas is still cheaper in America than just about any other first world nation by quite a large amount.

The difference is taxes. Most countries maintain their roads. We don't.


Investing in infrastructure is socialism.

Real Mericans don't need no roads for their SUVs and pick-up trucks.
 
2012-05-23 07:55:48 PM
robbiex0r: Has no gas tank, travels on already established road system.
[i.imgur.com image 640x371]


Same here.

uncrate.com
 
2012-05-23 08:28:26 PM
CultureVulture- President Bush signed an Executive Order to allow more drilling and the oil speculators got out of the game and prices went down. One of Obama's first actions was to rescind that E.O. and fuel prices started back up because the speculators could make money off a more limited supply.


Uhhhh, how about NO.

Neither action had any impact on the market, or the amount of oil drilled. Bush's actions were solely related to off-shore drilling and amounted to nothing more than "theater", because EO or not, there was still a federal law against most off-shore drilling. (To be clear, Obama's reversal of the EO also was "theater" as the Congressional ban on the majority of off-shore drilling still had not been overturned.

Regardless of the existence or non-existence of an EO, there would have been no additional drilling off-shore, except for those areas already approved by Congress.
 
2012-05-23 09:53:53 PM
Lost Thought 00: No, they aren't. They are cutting back because a drop in real purchasing power due to long term stagnant wages in the face of inflation. However they blame it on gas prices because they don't know any better.

This. And the government has adamantly denied the existence of inflation, and the obedient media will always agree.
 
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